Permanent Magnets Ltd
BSE:504132
Permanent Magnets Ltd
Permanent Magnets Ltd. engages in the manufacture of alnico cast magnets, yoke assemblies and parts and accessories of electricity meters. The company is headquartered in Thane, Maharashtra. The firm supplies gas meters parts and accessories. The assembly includes die cast parts, plastic parts, brass parts, bi-metal parts, stainless steel parts and special copper alloy and nickel alloy parts. Its magnetic assembly’s division offers a range of industrial application magnetic devices, such as magnetic separators and filters to split out iron along with other magnetic impurities, magnetic lifters to lift alloy plates, sheets, and various other metallic products. The company produces home and office devices, such as magnetic knife holders tool holders and magnetic sweepers. The company provides shunts, shunt assemblies, and brass terminals. The company also produces and markets high permeability nickel and iron components including mu-metal. The company serves various industries, such as, aerospace, defense, medical, energy meter and food.
Permanent Magnets Ltd. engages in the manufacture of alnico cast magnets, yoke assemblies and parts and accessories of electricity meters. The company is headquartered in Thane, Maharashtra. The firm supplies gas meters parts and accessories. The assembly includes die cast parts, plastic parts, brass parts, bi-metal parts, stainless steel parts and special copper alloy and nickel alloy parts. Its magnetic assembly’s division offers a range of industrial application magnetic devices, such as magnetic separators and filters to split out iron along with other magnetic impurities, magnetic lifters to lift alloy plates, sheets, and various other metallic products. The company produces home and office devices, such as magnetic knife holders tool holders and magnetic sweepers. The company provides shunts, shunt assemblies, and brass terminals. The company also produces and markets high permeability nickel and iron components including mu-metal. The company serves various industries, such as, aerospace, defense, medical, energy meter and food.
Revenue Decline: Q2 revenue was INR 49 crores, down 12% year-on-year due to lower exports and weaker domestic demand, especially in energy meters.
Margin Impact: EBITDA margin declined in Q2, primarily from reduced US exports linked to tariff policy changes, though business has resumed recently.
Capacity Expansion: Alloy and relay facility expansions are on track, with new alloy furnace installation expected by December and relay facility to be operational in Q4.
Growth Outlook: Management expects FY '27 growth of 20–30%, mainly driven by scaling alloy capacity and new relay business, with margins seen at 16–18%.
Quantum Magnetics JV: Joint venture with Lorentic is progressing phase-wise, with pilot production expected by FY '26–'27 and ambitious long-term targets.
Order Visibility: Strong order visibility in alloys, with current and upcoming capacity largely engaged and customer interest in both domestic and export markets.
Margin Recovery: Margins are expected to recover toward 16–18% as new products and capacities ramp up, depending on the sales mix.
